Guideline Value for MULLAI NAGAR 11th STREET

MULLAI NAGAR 11th STREET guideline value

The current guideline value of MULLAI NAGAR 11th STREET is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Villivakkam village, under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of MULLAI NAGAR 11th STREET has changed

The guideline value for MULLAI NAGAR 11th STREET has undergone several revisions over the years. In 2007, the guideline value was Rs 1,750 per sq.ft, which increased significantly to Rs 7,500 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 5,025 per sq.ft. The value then rose to Rs 7,500 per sq.ft in 2023 and has now reached Rs 8,200 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 369%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, indicating that MULLAI NAGAR 11th STREET's 2024 figure is above this median.

• MULLAI NAGAR 10th STREET: Rs 8,200 per sq.ft (2024)
• Mullai Nagar: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 1st STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 2nd STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 3rd STREET: Rs 8,200 per sq.ft (2024)
• MULLAI NAGAR 4th STREET: Rs 8,200 per sq.ft (2024)

Stamp duty and registration fee for property in MULLAI NAGAR 11th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value would be Rs 82,00,000. The stamp duty at 7% would amount to Rs 5,74,000, while the registration fee at 2% would be Rs 1,64,000. Together, the total cost would be Rs 7,38,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers MULLAI NAGAR 11th STREET?

The MULLAI NAGAR 11th STREET is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Villivakkam

The guideline value is an essential factor in the registration process when buying or selling property in Villivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

Frequently asked questions

What is the current guideline value of MULLAI NAGAR 11th STREET?

The current guideline value of MULLAI NAGAR 11th STREET is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2007 to Rs 8,200 per sq.ft in 2024, marking an overall increase of 369%. The value saw fluctuations, including a decrease between 2012 and 2017.

What is the land classification for MULLAI NAGAR 11th STREET?

The land classification for MULLAI NAGAR 11th STREET is Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 82,00,000, the stamp duty would be Rs 5,74,000 and the registration fee would be Rs 1,64,000, totaling Rs 7,38,000. Duty is charged on the higher of the guideline value or the sale price.

Which office handles property registrations for MULLAI NAGAR 11th STREET?

The Villivakkam Sub Registrar Office handles property registrations for MULLAI NAGAR 11th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.